The FTX estate has staked over 5.5 million Solana (SOL) coins, valued at $122 million, with a network validator.
Earlier today, the FTX estate staked over 5.5 million Solana coins, valued at $122 million, from one of its principal wallets on the Solana blockchain, according to on-chain data from SolanaFM.
Managed by a bankruptcy trustee, the FTX estate includes the exchange’s assets and liabilities at the time of its bankruptcy filing. The trustee is responsible for asset recovery and distribution to creditors. There have been previous concerns among crypto investors that the estate might liquidate its substantial Solana holdings, particularly the coins becoming unlocked, which could impact the asset’s market value. However, the latest action by the FTX estate counters those concerns.According to a court filing dated September 11, 2023, the FTX estate disclosed that it has recovered approximately $7 billion in assets.
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